Australia: Preserved Sardines Market 2024

Preserved Sardines Market Size in Australia

The Australian preserved sardines market soared to $X in 2022, jumping by 36% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Preserved Sardines Production in Australia

In value terms, preserved sardines production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2018 with an increase of 1,076%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Preserved Sardines Exports

Exports from Australia

Preserved sardines exports from Australia reduced sharply to X tons in 2022, with a decrease of -28.6% on 2021 figures. In general, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 607% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, preserved sardines exports contracted notably to $X in 2022. Over the period under review, exports recorded a pronounced descent. The growth pace was the most rapid in 2017 when exports increased by 637%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for preserved sardines exports from Australia, accounting for a 69% share of total exports. Moreover, preserved sardines exports to New Zealand exceeded the volume sent to the second major destination, Singapore (X tons), fivefold. The third position in this ranking was taken by Nauru (X tons), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand amounted to +27.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+48.5% per year) and Nauru (-2.9% per year).

In value terms, New Zealand ($X) remains the key foreign market for sardines (prepared or preserved) exports from Australia, comprising 62% of total exports. The second position in the ranking was taken by Singapore ($X), with a 21% share of total exports. It was followed by Papua New Guinea, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand stood at +24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+38.2% per year) and Papua New Guinea (-6.5% per year).

Export Prices by Country

In 2022, the average preserved sardines export price amounted to $X per ton, increasing by 11% against the previous year. Overall, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 73% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+28.2%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Australia

In 2022, imports of sardines (prepared or preserved) into Australia surged to X tons, rising by 29% compared with 2021. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, preserved sardines imports surged to $X in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Vietnam (X tons) and Thailand (X tons) were the main suppliers of preserved sardines imports to Australia, with a combined 66% share of total imports. The UK, Indonesia, the Philippines, Latvia and Malaysia lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +108.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sardines suppliers to Australia were Poland ($X), Thailand ($X) and Vietnam ($X), with a combined 61% share of total imports. The UK, Indonesia, Latvia, Malaysia and the Philippines lagged somewhat behind, together comprising a further 30%.

Indonesia, with a CAGR of +110.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preserved sardines import price stood at $X per ton in 2022, growing by 4.3% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved sardines import price increased by +62.5% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 39%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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